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Securitize plans to list on the NYSE on July 2, aiming to raise approximately $400 million

the business combination between Securitize and SPAC Cantor Equity Partners II (NASDAQ: CEPT) is expected to raise approximately $400 million (including PIPE, before deducting related expenses). Upon completion of the merger, the new company will be renamed Securitize Corp., and its common stock is planned to begin trading on the New York Stock Exchange under the ticker "SECZ" starting July 2. The CEPT shareholder meeting is scheduled to vote on the transaction on June 29, with the current redemption rate below 30%. Securitize claims to have obtained regulatory licenses related to digital securities infrastructure in both the United States and the European Union, managing over $4 billion in on-chain real-world assets. (PR Newswire)

Russia Plans to Ban Cryptocurrency Mining in Moscow and Other Regions Until 2032

According to Russia’s TASS news agency, the Russian Ministry of Energy has drafted a government decree that would ban cryptocurrency mining in certain areas of Moscow, Moscow Oblast, and Kursk Oblast—including Belovsky and Sudzha districts and eight other municipal districts, as well as the city of Lgov—starting July 1, 2026, through December 31, 2032. Previously, the Russian government had imposed mining bans in multiple regions, including Buryatia, Zabaykalsky Krai, and the North Caucasus, with the scope of restrictions continuing to expand. Currently, Moscow and Moscow Oblast host 65 data centers, with a total installed capacity of 734 megawatts.

Mining of cryptocurrencies to be restricted in Moscow and other regions; Russia's Ministry of Energy proposes a ban starting in 2026

The Russian Ministry of Energy has drafted a government resolution proposing a ban on cryptocurrency mining in Moscow, the Moscow region, and parts of the Kursk region from July 1, 2026 to December 31, 2032. According to the document, the ban covers multiple municipal districts and towns in the Kursk region. Previously, the Russian government had decided to implement long-term mining bans starting in 2025 in various parts of the North Caucasus, the Donetsk and Luhansk regions, the Zaporozhye and Kherson regions, and upgraded seasonal power restrictions in the Republic of Buryatia and the Trans-Baikal Territory to long-term restrictions. (TASS)

SEC and CFTC Seek Public Comment on Unified Portfolio Margining Framework

According to a notice on the SEC’s official website, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly issued a request for public comment on June 26 seeking input on further harmonizing the portfolio margining regulatory framework for securities, security-based swaps, futures, swaps, and related positions. The two agencies stated that this initiative aims to assess whether greater coordination could enhance risk management efficiency, reduce market fragmentation, and strengthen customer protection. The scope of the request for comment covers multiple topics, including existing margin methodologies, cross-product offsetting, capital and collateral treatment, clearinghouse considerations, and technical implementation. SEC Chair Paul S. Atkins stated that further harmonization of the framework could prevent jurisdictional overlap from impeding innovation and efficiency, and cross-margining mechanisms could unlock liquidity currently locked in segregated accounts. CFTC Chair Mike Selig also noted that enhanced interagency cooperation would help release underutilized capital and build a more robust risk management system. The public comment period will remain open for 60 days following publication in the <i>Federal Register</i>.

US CFTC and SEC Seek Public Comments on Uniform Portfolio Margin System

According to Odaily, the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) have jointly released a document seeking public comments on further harmonizing the regulatory framework for portfolio margin and cross-margining of securities, security-based swaps, futures, swaps, and related positions. Key areas of focus include existing portfolio margin models and practices, customer protection, cross-margining and cross-product offsets, capital and margin and collateral treatment, clearing agency and clearing organization arrangements, and technical and operational implementation. The comment period is 60 days from the date the document is published in the Federal Register.

Australian Securities and Investments Commission Extends Digital Asset License Transition Period to End of September This Year

the Australian Securities and Investments Commission (ASIC) has announced an extension of the "no-action" position for digital asset enterprises under the new licensing framework, overall extended to September 30, 2026. During this period, digital asset companies providing financial services can continue to apply for or modify Australian Financial Services (AFS) licenses, and a new operating model is permitted, allowing operations through authorized representatives or intermediary authorization arrangements of AFS licensees. The extension also applies to institutions that need to apply for a market license or a Clearing and Settlement (CS) license. Relevant entities must notify ASIC in writing of their intention to apply and conduct pre-meeting communications. ASIC stated that since the update of INFO 225 guidance in October 2025, it has received approximately 30 license applications from digital asset enterprises.

Serenity: US AI Companies Lower Inference Costs to Counter the "Model Distillation" Challenge

"White-Haired Stock Guru" Serenity stated that while some observations in the UBS report hold anecdotal truth, the more noteworthy trend is the increasing number of Chinese-language reports regarding the distillation of Anthropic's models. Currently, many US startups and tech companies are opting to use cheaper Chinese models (such as DeepSeek) in their AI applications, as their unit task costs are significantly lower than those of inference models from Gemini, OpenAI, and Anthropic.Serenity believes this trend, driven by capitalism, creates a "typical paradox"—companies naturally gravitate towards lower-cost solutions, thereby eroding the leading advantage of US models. He proposes that the US needs to address this on two fronts:First, build stronger access control and authentication systems, such as "heavy KYC frontier models" for domestic US use and tiered access mechanisms for allies, to reduce the risk of model distillation and misuse. This could also be accompanied by introducing an identity verification system akin to "AI-grade banking authentication" (e.g., biometrics + short-lived permission tokens) to raise the barrier for model calls, and using regulatory measures to restrict account sharing and access resale.Second, enhance the cost efficiency of inference models, allowing them to comprehensively outperform competitors like DeepSeek in both price and performance.Serenity also noted that some high-end models are currently frequently targeted for "distillation exploitation." Ideally, access to models nearing the AGI level should involve increased friction costs. In summary, the core challenge for the US AI industry lies in achieving both "low-cost inference capabilities" and establishing model access security mechanisms comparable to those in the financial system.

Thailand Issues Arrest Warrant for Chinese Businessman Allegedly Involved in "Pig Butchering" Scam and Illegal Crypto Mining Money Laundering Worth Billions of Dollars

The Thai government has officially issued an arrest warrant for Chinese businessman Wang Yicheng, accusing him of colluding with transnational criminal syndicates to launder billions of dollars through illegal cryptocurrency "mining" activities on behalf of cross-border internet fraud and online gambling syndicates. Reuters, citing an investigation by blockchain analytics firm TRM Labs, reported that Wang Yicheng's cryptocurrency wallet received at least $9.1 million (approximately HKD 71.35 million) between 2021 and 2022, with funds linked to "pig butchering" scams.Thailand's Special Investigation Department stated in a statement that U.S. law enforcement agencies have confirmed Wang Yicheng's involvement in a digital asset fraud case. The U.S. side had previously traced the flow of stolen funds from a victim in Massachusetts to an account registered under Wang Yicheng's name and seized approximately $500,000 worth of cryptocurrency. (Lianhe Zaobao)

Coinbase assists Brooklyn District Attorney in combating impersonation scam, involving approximately $16 million

Coinbase officially stated it is cooperating with the Brooklyn District Attorney's Office in New York to assist in investigating a long-term impersonation scam targeting platform users and supporting victims in recovering funds.According to the Brooklyn District Attorney's Office, a Brooklyn man has been charged with long-term impersonation of Coinbase customer service. Using social engineering tactics, he tricked users into believing their accounts had been compromised and instructed them to transfer funds to a "secure wallet," subsequently moving and stealing the funds. The case involves approximately 100 victims, with the total amount involved nearing $16 million. Over $600,000 has been recovered so far.Coinbase stated that this type of scam does not stem from platform security vulnerabilities but is a social engineering attack exploiting user trust and a sense of urgency. Common methods include identity forgery, impersonating customer service, and creating panic over account risks. The company stated it has cooperated with law enforcement agencies to complete various investigative tasks, including identifying suspects, assisting with victim notifications, providing data support for legal requests, and conducting on-chain fund tracing. It emphasized that blockchain traceability helps law enforcement track the flow of funds.Coinbase also reminded users that the platform will never ask them to transfer funds to a "secure wallet" or request 2FA codes, seed phrases, or password reset links. It recommends that users only contact customer service through official in-app channels. The company will continue to strengthen its anti-fraud mechanisms, user education, and cooperation with law enforcement agencies to address increasingly sophisticated crypto asset fraud activities.

Spanish Regulator Clarifies No Extension to MiCA Transition Period; Unlicensed Crypto Platforms Must Exit EU by End of June

Carlos San Basilio, Chairman of the Spanish securities market regulator (CNMV), stated that no extensions or exemptions will be granted for the transition period for licenses under the EU's Markets in Crypto-Assets Regulation (MiCA). This applies to platforms such as Binance that have not yet obtained MiCA authorization. Unlicensed crypto companies must exit the EU market by the end of June. The CNMV stated that it is communicating with relevant platforms regarding their exit arrangements to ensure an orderly transfer of client assets and protect investor interests. It also reminded investors that, after the transition period ends, new transactions on unauthorized platforms will no longer be protected under the MiCA framework. (Reuters)

Australia’s ASIC extends the transition period for crypto licenses to the end of September and broadens the scope of exemptions

According to Cointelegraph, the Australian Securities and Investments Commission (ASIC) announced it has extended the temporary regulatory relief period for digital asset businesses applying for an Australian Financial Services (AFS) license to 30 September 2026—three months beyond the previous deadline of 30 June. This extension also broadens the scope of the relief, now covering digital asset businesses operating via authorized representatives or through intermediary arrangements with licensed firms. ASIC stated that since updating its digital asset regulatory guidance in October 2025, it has received approximately 30 license applications. Notably, this extension is independent of Australia’s Digital Asset Framework, which passed Parliament in April this year and is scheduled to take effect on 9 April 2027. ASIC warned that businesses licensed under the current guidance may still require additional authorizations once the new framework comes into force.

Coinbase CLO: Former U.S. Acting Solicitor General Files “Masterpiece” Amicus Brief in Kalshi Case

Coinbase Chief Legal Officer Paul Grewal stated that former U.S. Acting Solicitor General Prelogar, representing the Coalition for Prediction Markets, has submitted an amicus brief supporting Kalshi to the U.S. Court of Appeals for the Sixth Circuit, describing it as a “masterpiece.” Paul Grewal pointed out that the document not only outlines the historical background of the Commodity Futures Trading Commission's exclusive regulatory authority over prediction markets but also presents three key arguments:1. Prediction markets can uniquely aggregate market information and convert it into simple price signals, collectively aggregated by market participants.2. Users of prediction markets trade at prices that market participants are willing to accept. They cannot control contract prices and bear the legal obligation to provide users with fair access to contracts.3. The laws of various U.S. states are unsuitable for regulating prediction markets because their core objectives are not to maintain fair markets, price discovery, information aggregation, risk hedging, or prevent market manipulation.

Polymarket’s annualized revenue exceeds $1 billion, daily trading volume rises to $200 million

According to market sources: Prediction market platform Polymarket’s annualized revenue has surpassed $1 billion, with daily trading volume soaring from $50 million to $200 million. (Sina Finance)

SecondFi: User Asset Repayment Expected to Begin in Approximately Two Weeks

Odaily, Cardano wallet service provider SecondFi has released an update on the security incident, stating that the team has completed the final balance snapshot of affected user assets. Several rounds of snapshots were continuously recorded during the incident response period to serve as the basis for subsequent asset recovery and reconciliation. SecondFi stated that the engineering and security teams are advancing the asset recovery plan. It is estimated that asset repayment can begin in approximately two weeks — one week allocated for finalizing a viable technical solution and another week for testing and review. The specific timeline may be subject to minor adjustments as progress unfolds. The platform will resume operations only after passing a comprehensive security review. Currently, users only need to submit a support request via the official website's ticketing system, with no additional action required.

Galaxy Research Director: The Commerce Department’s Private Directive to Anthropic Means the Government Can Ban Models

the Galaxy Research Director posted on platform X, stating that the Commerce Department has "crossed the Rubicon" in AI policy through a private directive to Anthropic; the government is effectively asserting its ability to ban models, and everyone is tacitly assuming the issue will be resolved, referring to it as "THE LAST MODEL PROBLEM."

Hyperliquid Responds to Inclusion on MAS Investor Alert List: No Ban or Violation Determination Involved

According to an official announcement, Hyperliquid stated that it has been added to the Monetary Authority of Singapore’s (MAS) Investor Alert List (IAL). Hyperliquid clarified that inclusion on this list does not constitute a ban, enforcement action, or a determination of misconduct; rather, the list serves primarily to alert the public that certain entities may be mistakenly perceived as licensed, authorized, or regulated by MAS.

Binance to Halt Services for Certain EU Customers Next Week Due to Lack of MiCA License

According to the UK’s Financial Times, Binance will cease serving certain customers in the European Union starting next week due to its failure to obtain a license under the EU’s Markets in Crypto-Assets Regulation (MiCA), and has already notified customers in Poland, Italy, Spain, and France to withdraw their funds.

Binance Appoints Daniel Acosta as Head of Latin America

Binance CEO Richard Teng announced that Daniel Acosta has been appointed Head of Latin America, where he will lead the region’s strategic initiatives—with a focus on addressing local user needs, engaging with regulators, and advancing cryptocurrency adoption. Binance stated that Latin America remains a key market for cryptocurrency adoption, and under Daniel Acosta’s leadership, the company will further strengthen its business presence and influence in the region.

U.S. CFTC Seeks Public Comment on New Rules for Reporting Data on Fully Collateralized Event Contracts

According to Cointelegraph, the U.S. Commodity Futures Trading Commission (CFTC) is seeking public comment on new data reporting requirements for fully collateralized event contracts. The proposal aims to replace the CFTC’s long-standing fragmented regulatory framework—comprised of multiple “no-action letters.”

Federal Reserve's Williams: Current monetary policy stance helps restore inflation to 2%

Federal Reserve's Williams stated the current monetary policy stance is in a favorable position to bring inflation back to the Fed's 2% target level, while also acknowledging that risks remain in achieving its dual mandate. Williams said: "Given that inflation is at a high level, we must persistently bring it back to the long-term target of 2%. The current monetary policy stance is fully capable of achieving this goal." Williams noted that inflation is "undoubtedly at a high level" and far above the committee's 2% target. He expects inflation data to edge down slightly in the coming quarters, although significant risks remain.